E-Learning: A Projected $243 Billion Dollar Business by 2022

Classrooms are emptying and e-learning is growing exponentially in both the corporate setting as well as k12 and higher education. Internet technologies have improved and become more powerful and diverse, and interactive media technologies have seamlessly ported to the Web. Today, the ability to meet learning needs in an online environment have very few limitations when compared to a traditional classroom or even a laboratory setting. According to a Market Research report, “Global E-Learning market was estimated at $165.36 billion in 2014 and is poised to grow at a CAGR of 5.08% to reach $243.8 billion by 2022. The key factors that are favoring the market growth are flexibility in learning, low cost, easy accessibility, increased effectiveness by animated learning, escalation in number of internet users and growing access of broadband pooled with mobile phones with online capabilities. However, factors like change management, technology obsolescence and vendor-developer partnership are major restraints that are hindering the growth of this market. While the United States leads the sales, Asia is the second largest market in eLearning products.”